Job Title:  Assistant Manager

Department: MFS – OTC – Portfolio reconciliation

About Business line/Function: MFS OTC DERIVATIVES PARIS

Position Purpose: Replacement FTE - Assistant Manager for performing OTC Derivatives Reconciliation services. Assistant Manager will be responsible for ensuring the daily tasks related to reporting of OTC derivatives transactions, Valuation and Collateral to DTCC for various regulations, and performing bilateral reconciliation with the brokers for OTC positions in Tri Resolve is being completed by the team. He/ She will be working closely with off-shore management, Account managers, internal and external stakeholders as part of their daily tasks and will report to the Manager in Chennai. He / She will also act as the first level of escalation for all BAU related queries / issues. The staff will be working closely with all internal teams, Paris and local management as part of their daily BAU. 

Assistant Manager will also be responsible for people management, formalizing the work allocations of the team members, discussing with the manager on the mid-year and year-end performance based ratings of the team members assigned to him as part of the performance appraisal.

Candidate with good functional understanding of the OTC derivative business along with good knowledge on OTC products & regulatory requirements is required.

Responsibilities

Direct Responsibilities

Portfolio Reconciliation

?    Reconcile valuation and material trade terms trade data with counterparties in compliance with the compliance set forth by EMIR regulation.

?    Research and identify the cause of the breaks.

?    Work with appropriate party to amend the breaks.

?    Evidence the cause of the breaks and its resolution.

?    Manage and monitor dispute investigation and escalations.

?    Prepare the monthly KRI and KPI, and ensure the RAG’s are Green.

?    Manage the group inbox and monitor the TAT to email responses.

Contributing Responsibilities

Escalating exceptions to appropriate processing team for resolution.

Reporting of exceptions in line with internal control and external client requirements.

Conduct / attend meetings with team members, Internal and External stakeholders on a regular basis.

Conducting one on one sessions with team members to appraise their performance on a quarterly basis.

Ensure the daily Checklist is signed by all team members and shared within the team.

Act as SME within the team and as an escalation point of contact for any internal and external queries / issues.

Should ensure having frequent checks in terms of activities in SOPs and ensuring timely update of Procedures in Global portal within expiry with completeness with the SMEs in the team

Should be vigilant in terms of any identified errors/ incidents notified by the SMEs in the Team are immediately logged in the Incident portal (BIRDIE) and have utter follow up until the incidence is signed off and cleared from Audit end.

Should ensure all the Daily/ Weekly/ Bi-weekly/ Monthly/ Quarterly/ Annual MIS analysis and presentation are signed off by the Team SMEs without any delay. Should be able to follow up any further queries raised by stakeholders

Technical & Behavioral Competencies

¡  Strong analytical skills, detail orientation, service commitment, and solid organizational and interpersonal skills.

¡  Ability to work independently, as well as in a team environment, prioritizes multiple tasks, and meets strict deadlines

¡  Proficient in Microsoft Office Applications and strong MS Excel skills required.

¡  Extensive experience of working within Derivative operations.

¡  Thorough understanding of all Derivative product classes.

¡  Ability to take decisions in all circumstances and lead by example.

¡  The Proficiency in communication should witness in terms of independent working/ understanding details and decision making/ Easy to convey / No compromise in professionalism.

Specific Qualifications (if required) – Portfolio REC - Triresolve

Knowledge and skills required 

§  Strong analytical skills, detail orientation, service commitment, and solid organizational and interpersonal skills.

§  Identify Operational Risk Areas within the Client Business Revenue Process.

§  Ability to work independently, as well as in a team environment, prioritizes multiple tasks, and meets strict deadlines

§  Proficient in Microsoft Office Applications and strong MS Excel skills required.

§  Experience of operations in Fund Management, Custody, Reconciliation like cash and collateral.

§  Query resolution in accordance with time frames set out in Client SLA’s

§  Work with the Vendors and other parties to capture OTC prices.

§  Resolve pricing / trade booking issues on a timely basis.

Skills Referential (Required knowledge, skills and abilities)

Technical Skills:

• Ability to understand,explain and support changes, 
• Analytical ability 
• Ability to develop and adapt to a process 
• Ability to manage/facilities a meeting,seminar,committee,training
• Ability to develop others & improve their skills

Behavioral Skills: 

• Ability to collaborate/Teamwork 
• Adaptability 
• Creativity and innovation
• Critical thinking

Education Level: Master’s degree or equivalent 

Location: Chennai

About BNP Paribas Group:

BNP Paribas is the European Union’s leading bank and key player in international banking. It operates in 65 countries and has nearly 185,000 employees, including more than 145,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialized businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment, and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realize their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy, and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Turkey, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group's performance and stability.

About BNP Paribas India Solutions:

Established in 2005, BNP Paribas India Solutions is a wholly owned subsidiary of BNP Paribas SA, European Union’s leading bank with an international reach. With delivery centers located in Bengaluru, Chennai and Mumbai, we are a 24x7 global delivery center. India Solutions services three business lines: Corporate and Institutional Banking, Investment Solutions and Retail Banking for BNP Paribas across the Group. Driving innovation and growth, we are harnessing the potential of over 10000 employees, to provide support and develop best-in-class solutions.

Commitment to Diversity and Inclusion

At BNP Paribas, we passionately embrace diversity and are committed to fostering an inclusive workplace where all employees are valued, respected and can bring their authentic selves to work. We prohibit Discrimination and Harassment of any kind and our policies promote equal employment opportunity for all employees and applicants, irrespective of, but not limited to their gender, gender identity, sex, sexual orientation, ethnicity, race, colour, national origin, age, religion, social status, mental or physical disabilities, veteran status etc. As a global Bank, we truly believe that inclusion and diversity of our teams is key to our success in serving our clients and the communities we operate in. As a global Bank, we truly believe that inclusion and diversity of our teams is key to our success in serving our clients and the communities we operate in.